As announced at the Company’s AGM in May 2013, John van Kuffeler will be retiring from the board on 1 January 2014 and Manjit Wolstenholme will succeed Mr van Kuffeler as Chairman of the Company on this date.

The Company is also delighted to announce that it has appointed Malcolm Le May and Alison Halsey to its board as independent non-executive directors with effect from 1 January 2014.

Malcolm has over 30 years experience in banking, asset management and insurance. He has worked in London and New York. Previous roles include co-head of banking for Barclays in New York, head of investment banking, Europe at UBS and global head of corporate and investment banking at ING Barings. He was deputy CEO at Morley Fund Management (now Aviva Investors) and president of JER Europe.

He currently acts as senior advisor to Ernst & Young, is senior independent director of Pendragon plc, a non-executive director of RSA Insurance Group plc and chairman of Juno Capital LLP.

Malcolm will assume the position of senior independent director and chairman of the Remuneration Committee with effect from 1 January 2014.

In accordance with Listing Rule 9.6.13R, paragraph 3, Malcolm left the board of Matrix Securities Limited approximately twelve months before it was put into administration by its principal shareholder.

There is no further information to be disclosed in relation to Malcolm pursuant to Listing Rule 9.6.13R.

Alison spent 34 years with KPMG specialising in financial services, with audit and advisory responsibilities for UK and international banks.  She has also advised a number of UK charities and was a board member of the National Autistic Society for 5 years.  She is currently a non-executive director of Teachers Assurance and an Ambassador for the Alzheimer’s Society.

There is no further information to be disclosed in relation to Alison pursuant to Listing Rule 9.6.13R.


K J Mullen
General Counsel and Company Secretary
Tel:  01274 351351 ext. 1035